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SOUTH INDIAN BANK

Jan 20, 2020 351

HISTORY:

 And here came one of the oldest banks in South India, South Indian Bank (SIB) came into existence during the Swadeshi movement. It was established on 1st March 1928 by the fulfillment of the dreams of a group of enterprising men who have joined together in Thrissur to provide people with a safe, effective and service-oriented society of savings in terms of warehouse, and rid the business community from the clutches of moneylenders greedy on the other hand, through the provision of credit on the basis of the need for affordable interest. Now the bank accounts of a network of 520 branches .17 extension counters and 260 ATMs. Through the whole thing, and the Bank services within the areas of accounts / deposits, loans, investment funds, insurance, money transfers and some value-added services.

It opened its first branch outside the state of Kerala by the Bank in Coimbatore during the year 1941. Sharjah Islamic Bank, the first among private sector banks in Kerala to become a scheduled bank in 1946 under the Reserve Bank Act. During 1963, the bank has taken on the assets and liabilities of the company Kshemavilasam Banking Corporation Limited and Bank Ambat Limited, Chittur, Kerala. The year 1964 marked one in the saga of the SIB. The bank got ten banks in a single year of 1964 itself, the list of banks include Bank Public Co. Ltd., Suburban Bank Limited, Vijalakshmi Bank Limited, Chalakudy Bank Limited, Mukkattukara Catholic Bank Limited and charities Assyrian Banking Co., Ltd., and Catholic Christianity Syrian presented Bank Limited, Malabar Bank Limited, Bharata Union Bank Limited and Bank Kozhuvanal limited SIB entry into investment banking activities through the support / IPO 99 new cases in 1990.

Activity has begun chest currency from the bank on behalf of the Reserve Bank for implementation in April of the year 1992. During the same year, 1992, closed SIB Indian community branch in November put, automation branch of an integrated in-house software in addition to the partial automation solutions operating in the house. During the year 1993, the bank began in the Industrial Finance branch in March and opened the "overseas branch" to cater exclusively to the business of export and import in the month of June of the same year was 1993. The initial public offering of the bank and went to the public in the year 1998. Sibertech (turbo boost engine South West Indian) project, was launched a comprehensive solution and a central bank by the bank in 2001, as well as SIB entered into an alliance with the three exchange companies in the Gulf during the year 2001 are identical.

And it provided a tie-up by the bank with insurance player in 2002 for the distribution of insurance products company. Making online banking, which gave Sibernet by the bank to its customers in 2003, as well as an agreement with MasterCard Worldwide to launch Maestro, and / debit card global ATM. During the year 2004, the Bank had celebrated 75 years of existence. The follow on public offering of the company in 2005. He won a private bank for excellence in banking technology from IDRBT Award (Research and Development Institute in the field of banking technology) in September of 2006.

 

Chairman: Sri. Salim Gangadharan